Transferring title of parental home

[mikedg]

Some 15+ years ago my wife and I funded the purchase of my parents house. My father has since died and the house is in my mother's name. At 83 she is fit and well but concerned that "our inheritance" actually come to us. Can she just transfer title to us? Can we buy it a low price? Any one any suggestions?

Thank you in advance

[Simon Sweetman]

She can transfer the property to you. That is a disposal at market value but because it is her main residence the disposal would be exempt from CGT. You will need to see a solicitor to find a way of ensuring that she has a legal right of occupation for life, perhaps through a life interest trust.